Today, crucial US inflation data, which the Federal Reserve considers in its interest rate decisions, was released. Following these reports, Bitcoin showed price changes.
Bitcoin's New Price Levels
Bitcoin, the leading cryptocurrency that has set records since Donald Trump's victory, dropped from $89,000 to $87,200.
US Inflation Data
The following inflation figures were announced today:
- Consumer Price Index Annual: Announced 2.6% – Expected 2.6% – Previous 2.4% - Consumer Price Index Monthly: Announced 0.2% – Expected 0.2% – Previous 0.2% - Core Consumer Price Index Annual: Announced 3.3% – Expected 3.3% – Previous 3.3% - Core Consumer Price Index Monthly: Announced 0.3% – Expected 0.3% – Previous 0.3%
The consumer price index is an important variable used to measure consumer purchasing trends and U.S. inflation changes.
Bitcoin's Reaction to the CPI
Despite analysts expecting further growth, today's inflation report impacted Bitcoin's price, leading to a drop to $87,200.
The released inflation data significantly influenced Bitcoin's rate. Leading analysts continue to monitor these figures to predict the cryptocurrency's future behavior.
